Capital One shares fell over 6% after President Trump proposed a one-year, 10% cap on credit card rates, affecting profitability for issuers like Capital One, American Express, and others. Analysts are skeptical of the plan’s impact on the industry and economy, as credit access may tighten. Wells Fargo and Goldman Sachs also saw drops.

Read more at CNBC: Trump targets credit card rates. What’s at stake for Capital One and other banks